Subsidiary and Associated Companies

Cost of  Investment

 

PROPERTY                      Subsidiaries

Effective Equity Interest %

1999

$'000

1998

$'000

Country of Incorporation/  Place of Business

Principal Activities
Acresvale Investment Pte Ltd 100 1 1 Singapore Property development and investment
Aldrich Investment Pte Ltd 100 1 1 Singapore Investment holding
Bintan Bay Resort Pte Ltd* 90 1,607 1,607 Singapore Investment holding
Bugis Junction Asset Management Pte Ltd* 100 - - Singapore Investment holding
Capital Square Pte Ltd* 70 101,500 101,500 Singapore Property investment
Daysville Development Pte Ltd* 46 1 1 Singapore Investment holding
Denton Investment Pte Ltd 100 - - Singapore Investment holding
Dovesdale Development Pte Ltd 100 1 1 Singapore Investment holding
Earnwell Pte Ltd 100 4 4 Singapore Property investment
Experre Pte Ltd 100 12,604 4 Singapore Investment holding
Fernland Investment Pte Ltd 55 1,651 1,651 Singapore Investment holding
Flanningan Investment Pte Ltd 100 8,510 8,510 Singapore Investment holding
Glenville Estate Investment Pte Ltd 100 1 1 Singapore Investment holding
Goodways Investment Pte Ltd 60 1,261 1,261 Singapore Investment holding
Grandsdale Investment Pte Ltd 100 1 1 Singapore Investment holding
Greenfield Development Pte Ltd 100 125,501 111,101 Singapore Investment holding
Harvestland Development Pte Ltd 100 1 1 Singapore Property developmentt and investment
High Point Development Pte Ltd 100 121 121 Singapore Investment holding
Hillsvale Resort Pte Ltd 100 1 1 Singapore/China Property Investment
Holland Realty Pte Ltd 100 4,921 4,921 Singapore Property development
Hospitality Sales Pte Ltd 100 1 1 Singapore Hotel and resort management 
Hotel Procurement Pte Ltd 100 11 11 Singapore Hotel services 
Keppel Land Construction  Management Pte Ltd 100 101 101 Singapore Recruitment of site staff
Keppel Land Development Pte Ltd 100 1 1 Singapore Investment holding
Keppel Land Estate Pte Ltd 100 1 1 Singapore Investment holding
Keppel Land International Limited 100 30,208 30,028 Singapore Property services
Keppel Land Investment Pte Ltd 100 1 1 Singapore Investment holding
Keppel Land Properties Pte Ltd 100 205,509 205,509 Singapore Investment holding
Keppel Land Realty Pte Ltd 100 1,006 1,006 Singapore Property Investment
Keppel Land (Mayfair) Pte Ltd* 100 1,000 1,000 Singapore Property development
Keppel Land (Palm Gardens) Pte Ltd* 100 1,000 1,000 Singapore Property development
Keppel Land (Villa Verde) Pte Ltd * 100 1,000 1,000 Singapore Property development
Keppel Land (Tower D) Pte Ltd* 100 139,000 139,000 Singapore Property development and investment
Keppel Land (China) Pte Ltd 100 1 1 Singapore Investment, management and holding company
Keppel Land (Indonesia) Pte Ltd 100 1 1 Singapore Investment, management and holding company
Keppel Land (Malaysia) Pte Ltd 100 1 1 Singapore Investment, management and holding company
Keppel Land (Myanmar) Pte Ltd 100 1 1 Singapore Investment, management and holding company
Keppel Land (Philippines) Pte Ltd 100 1 1 Singapore Investment, management and holding company
Keppel Land (Vietnam) Pte Ltd 100 1 1 Singapore Investment, management and holding company
Kingsley Investment Pte Ltd 100 - - Singapore Investment holding
Mansfield Developments Pte Ltd 100 2,336 2,336 Singapore Property development
Mansfield Realty Pte Ltd 100 1,198 1,198 Singapore Property development
Meadowsville Investment Pte Ltd 100 54,001 54,001 Singapore Investment holding
Merryfield Investment Pte Ltd 100 1 1 Singapore Investment holding
Montfort Development Pte Ltd 100 28,101 1 Singapore Investment holding
Ocean & Capital Properties Pte Ltd 85 18,037 18,037 Singapore Property development and investment
Ocean Properties Pte Ltd* 76 406,780 406,780 Singapore Property investment
Oceandale Investment Pte Ltd 100 1 1 Singapore Management and consultancy services
Palmsville Investment Pte Ltd 84 85 85 Singapore Investment holding
Pasir Panjang Realty Pte Ltd 100 9,170 9,170 Singapore Property investment
Prestige Landmark Pte Ltd 51 510 510 Singapore Investment holding
Rosedale Properties Pte Ltd 70 1,051 1,051 Singapore Investment holding
Saigon Centre Holdings Pte Ltd 100 63,101 63,101 Singapore Investment holding
Sedona Clubs and Resorts International Pte Ltd 100 1 1 Singapore Club management
Sedona Hotels International Pte Ltd 100 101 101 Singapore Hotel and resort management
Semtec Construction Pte Ltd 63 316 316 Singapore Building retrofitting and construction
Sherwood Development Pte Ltd 100 1,505 1,505 Singapore Property development
Silkland Investment Pte Ltd 100 10,900 10 Singapore Investment holding
Spring City Resort Pte Ltd 100 39,101 39,101 Singapore Investment holding
Starville Investment Pte Ltd* 70 1,000 1,000 Singapore / Australia Property investment
Steadfast Development Pte Ltd* 36 2,110 2,110 Singapore Property development
Straits Mansfield Property Marketing Pte Ltd 100 12 12 Singapore Provision of marketing services
Straits Properties Limited 100 74,492 74,492 Singapore Investment, holding and property management
Straits Property Investments Pte Ltd 100 200,136 200,136 Singapore Investment holding
Straits Property Management Pte Ltd 100 28 28 Singapore Property management and estate agency services
Straits Steamship Retail Management Pte Ltd 100 101 101 Singapore Management of retail centres
Straits-CM Village Hotel Pte Ltd* 39 2 2 Singapore Property investment
Straits-KMP Resort Development Pte Ltd* 46 1,786 1,786 Singapore Investment holding
Sunlake Development Pte Ltd 100 13,101 1 Singapore Investment holding
Swansville Investment Pte Ltd 100 1 1 Singapore Investment holding
Toshmatic Pte Ltd 100 17,704 4 Singapore Investment holding
Ultimore Development Pte Ltd* 84 1 1 Singapore Investment holding
Valour Investment Pte Ltd 100 1 1 Singapore / United Kingdom Property investment
Virginia Developments Pte Ltd 51 2,602 2,602 Singapore Property investment
Waterfront Properties Pte Ltd 50 5,852 5,852 Singapore Property development
Waterville Investment Pte Ltd 100 1 1 Singapore Investment holding
Willowville Pte Ltd* 100 6 6 Singapore Investment holding
Wiseland Investment Pte Ltd (Interest of 92% up toDecember 1999) 100 101 93 Singapore Investment holding
Yang Zong Hai Development Pte Ltd 100 1 1 Singapore Investment holding
Yang Zong Hai Resorts Pte Ltd 100 1 1 Singapore Investment holding
Keppel Land Sdn Bhd 100 - - Malaysia Property services
Keppel Land Development Pty Ltd* 100 - - Australia Propertyv development
Straits Properties (Bayswater) Pte Ltd* 100 - - Australia Property investment
Double Peak Holdings Ltd 100 226,330 146,330 British Virgin Islands/ Singapore Investment holding
Erskine Holdings Ltd* 70 1 1 British Virgin Islands/Hong Kong Investment holding
Pembury Properties Ltd* 100 1 1 British Virgin Islands/ Hong Kong Investment holding
Saigon Centre Investment Ltd* (Formerly First Pacific Land (Vietnam) Ltd)  100 17.821 17.821 British Virgin Islands/Hong Kong Investment holding
Vanese International Ltd* 70 1 1 British Virgin Islands/Hong Kong Investment holding
Keppel Land (Saigon Centre) Ltd* 100 6 6 Hong Kong Investment holding
Straits-KMP (HK) Ltd* 51 - - Hong Kong Investment holding
Ventek International Ltd* 100 1 1 Hong Kong Investment holding
P T Keppel Land* 100 358 358 Indonesia Property services
P T Ria Bintan* 46 55,261 55,261 Indonesia Property development
P T Sedona Hotels Indonesia* 100 1,126 1,126 Indonesia Hotel and resort management
P T Sentral Supel Perkasa* 80 - - Indonesia Property investment/development
P T Sentral Tanjungan Perkasa* 80 48,843 48,843 Indonesia Property development
P T Straits CM Village* 39 41,513 41,513 Indonesia Hotel ownership and operations
Straits Greenfield Ltd* (Interest of 95% up to November 1999) 100 5,797 5,797 Myanmar Hotel ownership and operations
Wiseland Investment Myanmar Ltd* 100 3,292 3,292 Myanmar Hotel ownership and operations
Straits (USA) Inc 100 10,555 10,555 United States of America Property investment
Straits Realty (Texas) Inc* 100 8,890 8,890 United States of America Property investment
Centre for International Transactions* 41 8,014 8,014 Vietnam Property investment
Keppel Land Watco I Co Ltd* (Formerly FPSL Watco Co Ltd)  68 38,977 38,977 Vietnam Property investment / development
Keppel Land Agtex Ltd* 60 5,169 5,169 Vietnam Property investment
Quang Ba Royal Park JV Co* 59 34,902 34,902 Vietnam Property investment

Associates
Asia Real Estate Fund Management Limited (Incorporated on 24 November 1999) 50 - - Singapore Fund management
Atlantic Marina Services (Asia Pacific) Pte Ltd 20 1,680 1,680 Singapore Property investment
Bugis City Holdings Pte Ltd 31 55,304 55,304 Singapore Property investment
China-Singapore International Pte Ltd 20 4,001 4,001 Singapore Investment holding
DL Properties Ltd 35 31,832 31,832 Singapore Property investment
EM Services Pte Ltd 25 500 500 Singapore Property management
FELS SES International Pte Ltd 17 1,470 1,470 Singapore Investment holding
Keppel Marina Holdings Pte Ltd 30 1,614 1,614 Singapore Development of marina
Kingsdale Development Pte Ltd* 50 7 7 Singapore Investment holding
Parksville Development Pte Ltd* 50 10,500 10,500 Singapore  Property investment
Sedona Hotel Bintan Management Pte Ltd* 19 25 - Singapore / Indonesia Hotel management
Semtec-Syntech Pte Ltd* 32 50 50 Singapore Construction
Sing-Mas Investment Pte Ltd* 30 10,804 10,804 Singapore Investment holding
Singapore Suzhou Industrial Holdings Pte Ltd* 25 12,026 12,026 Singapore Investment holding
Straits Parco Retail Management Pte Ltd* 33 330 330 Singapore Investment holding
Suzhou Property Development Pte Ltd* 25 250 250 Singapore Investment holding
Keppel Kunming Resort Ltd 15 - - Hong Kong Property investment
PT Pantai Indah Tateli* 50 28,235 28,235 Indonesia Property development
PT Pulomas Gemala Misori* 25 8,024 8,024 Indonesia Property development
PT Purimas Straits Resort* 25 4,245 4,245 Indonesia Development of holiday resort
PT Purosani Sri Persada* 20 6,013 6,013 Indonesia Property investment
Jernih Rezeki Sdn Bhd* 49 1,396 1,396 Malaysia Property development
Renown Property Holdings (M) Sdn Bhd 40 4,219 4,219 Malaysia Property investment
Tropical Garden NV* 25 13 13 Netherlands Antilles Investment holding
Keppel Philippines Properties Inc. (Acquired in October 1999) 48 15,648 - Philippines Investment holding
Keppel Houston Group Partnership* 30 10,937 10,937 United States of America Property investment


OTHER ACTIVITES

Subsidiaries

Health Services Investment of Singapore Pte Ltd* 100 1,350 1,350 Singapore Investment holding
Health Services Management of Singapore Pte Ltd* 100 45 45 Singapore Health services management
OIL (Asia) Pte Ltd 100 89,931 9,931 Singapore Financial services
Astek Pty Ltd 100 12,477 12,477 Australia Financial services
Keppel Land Pty Ltd 100 - - Australia Investment holding
Kep Corporation Incorporated* 100 1,089 1,089 Cayman Islands Financial services
Duit Investments Ltd* 100 644 644 Hong Kong Financial services
Keppel Land (Hong Kong) Ltd 100 11,342 11,342 Hong Kong Investment holding
Straits Investments Ltd* 100 1,365 1,365 Hong Kong Investment holding

Associates

Kepital Holdings Pte Ltd (Sold in October 1999) - - 25,938 Singapore Investment holding

Keppel Integrated Engineering Limited (Sold in May 1999)

- - 17,830 Singapore Engineering, constructing, trading and specialist engineering services
Keppel Power Systems Pte Ltd 15 1,782 1,782 Singapore Investment holding
Keppel Telecommunications &  Limited transportation and (Sold in May 1999) - - 42,807 Singapore Shipping,  transportation and telecommunication services
SAFE Enterprises Pte Ltd 25 21,971 21,971 Singapore Investment holding


INACTIVE COMPANIES

Subsidiaries

Fairfield Properties Pte Ltd* 82 5,346 5,346 Singapore
Floraville Estate Pte Ltd 100 1 1 Singapore
Island Cruises Pte Ltd* 100 571 571 Singapore
Keppel Land Asia Pte Ltd (Formerly XinmingInvestment Pte Ltd) 100 1 1 Singapore
Keppel Land (UK) Pte Ltd 100 1 1 Singapore
Mansfield & Company Pte Ltd 100 30,000 30,000 Singapore
Mansfield Investments Pte Ltd* 100 100 100 Singapore
Transport and Storage Pte Ltd 90 - - Singapore
Pride Properties Sdn Bhd 100 - - Malaysia
Wellmade Land Sdn Bhd 100 - - Malaysia
Straits Enterprises Pte Ltd* (Sold in September 1999) - - 71 Hong Kong
QAF-OIL (Hong Kong) Ltd 51 1,807 1,807 Hong Kong

Associates
Hotforge Energy Services Pte Ltd 50 - - Singapore
Straits-TCG Systems Automation Pte Ltd* 50 10 10 Singapore
Malaysian Mokes Sdn Bhd* 49 45 45 Malaysia
Pernas OIL (Sabah) Sdn Bhd* (Under liquidation) 35 177 177 Malaysia
QAF-OIL (Thailand) Ltd* 24 338 338 Thailand

Notes:
1 The holding in the equity shown for each subsidiary and associated company is the 
proportion attributable to Keppel Land Limited. Changes in interest, if any, and
subsidiary and associated companies acquired or disposed of during the year are
as indicated in brackets against the companies concerned. Subsidiaries (including
their subsidiaries and associated companies) and associated companies directly
owned by Keppel Land Limited are included in the above list.

2 Associated companies are those in which the Group has a long-term substantial 
equity interest and in whose commercial and financial policy decisions the Group
 actively participates.

3 The cost of investment in each subsidiary/associated company is the proportion of 
the historical cost of its shares attributable to Keppel Land Limited. Companies
 indicated with an asterisk (*) are indirectly held by Keppel Land Limited.

4 All the active companies operate in their respective countries of incorporation, 
unless otherwise specified.

5 Subsidiaries incorporated outside Singapore are audited by associated firms of 
Ernst & Young, Singapore, except for:

(a) Kep Corporation Incorporated, Straits (USA) Inc, Straits Realty (Texas) Inc, 
Erskine Holdings Ltd, Pembury Properties Ltd, Vanese International Ltd, PT
Sentral Tanjungan Perkasa, PT Pantai Indah Tateli, PT Keppel Land, PT
Sedona Hotels Indonesia, Double Peak Holdings Ltd, Saigon Centre
Investment Ltd and Straits-KMP (HK) Ltd which are audited by Ernst &
Young, Singapore;

(b) Keppel Land (Hong Kong) Ltd, Straits Investments Ltd and QAF-OIL (Hong 
Kong) Ltd which are audited by H.L. Leung & Co.;

(c) Centre for International Transactions which is audited by Deloitte Vaco; and

(d) Quang Ba Royal Park JV Company Ltd and Keppel Land Agtex Ltd which are .
audited by KPMG Peat Marwick

Keppel Land Limited
(Incorporated in the Republic of Singapore)